| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 40th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 23764 Via Canon, Newhall, CA, 91321, US |
| Region / Metro | Newhall |
| Year of Construction | 1985 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
23764 Via Canon, Newhall CA Multifamily Investment
Neighborhood occupancy trends are around the Los Angeles metro median and renter concentration is elevated, supporting a stable tenant base according to CRE market data from WDSuite. With 40 units built in 1985, this asset presents potential value-add upside in a high-cost ownership market.
The property sits in an Urban Core neighborhood within the Los Angeles-Long Beach-Glendale metro where neighborhood occupancy is 95.2% (near the metro median) and neighborhood renter-occupied share is 56.6%. These are neighborhood-level signals, not property performance, but they indicate a sizable tenant pool and steady leasing backdrop for multifamily investors.
Neighborhood housing fundamentals test well versus national benchmarks, with housing metrics in the top quartile nationally. Median contract rents at the neighborhood level also rank high nationally, while home values are elevated, reinforcing reliance on rental housing and supporting pricing power and lease retention for well-positioned properties.
Local retail and services within the neighborhood boundaries are limited (very low counts for restaurants, cafes, groceries, parks, and pharmacies). Investors should weigh this against the broader metro access of Los Angeles County; residents may rely more on nearby nodes for daily needs, which can favor assets that offer on-site conveniences and parking.
Within a 3-mile radius, demographics show a modest population contraction recently with a projected decline ahead, but households are expected to increase and average household size to decrease. For investors, that combination can expand the number of renting households even as population slips, supporting occupancy stability. Incomes in the 3-mile area are high and rising, which can underpin rent growth, while a rent-to-income profile near 30% suggests monitoring affordability pressure and managing renewals carefully.
The neighborhood s average construction year skews to the late 1980s; the subject s 1985 vintage is slightly older. That timing can translate to targeted capital planning and value-add opportunities (common areas, unit finishes, systems) to remain competitive against newer stock.
Neighborhood safety indicators are mixed but generally sit around national midranges. Overall crime performance is near the national middle (54th percentile nationally), and the neighborhood ranks near the metro middle among 1,441 Los Angeles metro neighborhoods. Importantly, estimated property offenses have declined sharply year over year at the neighborhood level, placing that improvement in a strong national position.
Investors should treat these as directional, neighborhood-scale signals rather than block-level measures and consider standard property-level security features and resident engagement to support retention.
Proximity to diversified employers supports renter demand and commute convenience for workforce households, notably in healthcare, life sciences, insurance, and telecom. Nearby anchors include AmerisourceBergen, Boston Scientific Neuromodulation, Thermo Fisher Scientific, Farmers Insurance Exchange, and Charter Communications.
- AmerisourceBergen pharmaceutical distribution offices (5.7 miles)
- Boston Scientific Neuromodulation medical devices (7.1 miles)
- Thermo Fisher Scientific life sciences (12.3 miles)
- Farmers Insurance Exchange insurance services (13.8 miles) HQ
- Charter Communications telecommunications (15.3 miles)
This 40-unit, 1985-vintage property offers scale and classic interiors that can benefit from selective renovations to capture pricing in a neighborhood where occupancy trends sit around the metro median. Elevated neighborhood home values and a high value-to-income profile suggest ownership costs remain steep, bolstering reliance on multifamily rentals and supporting lease retention. According to CRE market data from WDSuite, the surrounding neighborhood shows strong national standing on housing metrics and solid NOI per unit benchmarks, pointing to durable operating fundamentals for well-managed assets.
Within a 3-mile radius, incomes are high and rising and rents are projected to grow, while households are expected to increase even as population contracts, implying smaller household sizes and a broader renter base over time. Amenity scarcity inside the immediate neighborhood elevates the importance of on-site features, parking, and unit quality; the property s average unit size of 919 square feet can aid retention if paired with thoughtful upgrades. Lease management should monitor affordability pressure and the possibility of a gradually lower renter share in the broader area.
- Neighborhood occupancy near metro median supports baseline stability
- Elevated ownership costs reinforce sustained multifamily rental demand
- 1985 vintage with value-add potential to enhance rents and retention
- Employer access across healthcare, life sciences, insurance, and telecom underpins leasing
- Risks: limited neighborhood amenities, demographic softening, and affordability management at renewals